Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
HC construed CBDT circulars dated 09.09.2019 and 23.01.2020 in relation to prosecution under ss. 276C(1) and 278E of the IT Act. It held that where the amount of tax sought to be evaded exceeds Rs. 25 lakhs, the competent approving/sanctioning authority for launching prosecution is the PCIT, and not a collegium of two CCIT/DGIT rank officers. The requirement of collegium approval applies only where the evaded tax is Rs. 25 lakhs or below. Finding the sanction valid and no infirmity in prosecution, the petition by assessee was dismissed.
HC construed CBDT circulars dated 09.09.2019 and 23.01.2020 in relation to prosecution under ss. 276C(1) and 278E of the IT Act. It held that where the amount of tax sought to be evaded exceeds Rs. 25 lakhs, the competent approving/sanctioning authority for launching prosecution is the PCIT, and not a collegium of two CCIT/DGIT rank officers. The requirement of collegium approval applies only where the evaded tax is Rs. 25 lakhs or below. Finding the sanction valid and no infirmity in prosecution, the petition by assessee was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
